Decision making jss 1

  • Sub SUBJECT: HOME ECONOMICS.
    Topic 1: Meaning of decision making Topic: Resources and Decision Making: Decision making can simply be defined as the process of choosing among alternatives.
    It can only take place when there are two or more things to choose from.

How does family influence decision making?

Resources:

  1. The human and material resources available will influence ones decision e
g. time, money, knowledge, etc.
Friends:Friends have a strong influence on each other and can influence each other in decision making.
Needs and wants:The needs and wants of the family will influence their decision.
The needs will be considered before the wants.
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How does JSS achieve excellence?

JSS is striving to achieve excellence through some of the initiatives around pedagogy, innovation and entrepreneurship.
The Global Engagement (GE) section facilitates and coordinates all university`s national & international activities, from individual academic and research initiatives to institutional collaborations.

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What is decision making & why is it important?

Decision making is the act of making choices.
It is the process of a choice from alternative courses of action or things.
It is the ability to make up one’s mind as regards a particular issue or issues.
Decision-making comes to action only when there are two or more things to choose from.
It helps to minimise mistakes.

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What is system 1 decision-making?

In System 1 decision-making, people make intuitive, on-the-fly decisions that are based on the information that is immediately available to them in their mind and environment.
In the modern psychology book Thinking, Fast and Slow, Nobel-prize winner Daniel Kahneman talks about two distinct types of decision-making:

  1. System 1 and System 2

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